Peltz Might Buy Family Dollar
Nelson Peltz indicated a willingness to take Family Dollar Stores private.
Today's economic data was not market-friendly.
Commodity price inflation is developing, retail sales were weaker than expectations (+0.3% vs. forecast of +0.5%), the components of the Empire State Manufacturing Index were disappointing (slowing shimpments, a lower employment component and a sharp increase in prices paid), and import prices (less fuel) spiked.
Yahoo! Getting Jiggy
My favorite, stock, YHOO, is getting jiggy -- again.
Fooling all the people all of the time? The deficit is not being addressed, and there is a lot of fuzzy math incorporated in projections. On the same day that the administration unveiled its 2012 budget and proposed a $110 billion per year reduction over a 10-year period, it raises this year's budget by $150 billion.
But Fed Chairman Bernanke and others insist that core inflation is under control! Increases in clothing prices are reversing a decade long reduction in prices this spring. During my appearance on "The Kudlow Report," a University of Michigan professor debated me about inflation; he, too, said it was contained. He highlighted produce prices under control in his argument. Really, Chairman? Really, professor?
long YHOO
Tuesday, February 15, 2011
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